Let us make this connection of
consequences evident by an example.
Suppose that in the United States ten millions of hats are sold at
five dollars each: this affords to the hatters' trade an income of
fifty millions. A machine is invented which allows hats to be afforded
at three dollars each. The receipts are reduced to thirty millions,
admitting that the consumption does not increase. But, for all that,
the other twenty millions are not subtracted from _human labor_.
Economized by the purchasers of hats, they will serve them in
satisfying other needs, and by consequence will, to that amount,
remunerate collective industry. With these two dollars saved, John
will purchase a pair of shoes, James a book, William a piece of
furniture, etc. Human labor, in the general, will thus continue to be
encouraged to the amount of fifty millions; but this sum, beside
giving the same number of hats as before, will add the gratifications
obtained by the twenty millions which the machine has spared. These
gratifications are the net products which America has gained by the
invention.
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